LifePro Asset Management Invests $26.17 Million in Schlumberger Limited (NYSE:SLB)

LifePro Asset Management purchased a new position in shares of Schlumberger Limited (NYSE:SLB) during the second quarter, Holdings Channel.com reports. The fund purchased 817,531 shares of the oil and gas company’s stock, valued at approximately $26,169,000. Schlumberger makes up approximately 7.7% of LifePro Asset Management’s holdings, making the stock its biggest position.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Maryland State Retirement & Pension System boosted its holdings in Schlumberger by 374.2% during the first quarter. Maryland State Retirement & Pension System now owns 106,230 shares of the oil and gas company’s stock worth $2,888,000 after buying an additional 83,830 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in Schlumberger by 8.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 436,771 shares of the oil and gas company’s stock worth $13,857,000 after buying an additional 33,475 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in Schlumberger by 129.0% during the first quarter. Canada Pension Plan Investment Board now owns 1,592,870 shares of the oil and gas company’s stock worth $43,310,000 after buying an additional 897,159 shares in the last quarter. Eukles Asset Management boosted its holdings in Schlumberger by 223.6% during the second quarter. Eukles Asset Management now owns 2,395 shares of the oil and gas company’s stock worth $77,000 after buying an additional 1,655 shares in the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its holdings in Schlumberger by 17.3% during the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 44,057 shares of the oil and gas company’s stock worth $1,461,000 after buying an additional 6,510 shares in the last quarter. 76.26% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages recently issued reports on SLB. Royal Bank of Canada reissued an “outperform” rating and set a $37.00 price target on shares of Schlumberger in a report on Thursday, September 9th. Morgan Stanley increased their price objective on shares of Schlumberger from $32.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, July 9th. HSBC raised shares of Schlumberger from a “reduce” rating to a “hold” rating and increased their price objective for the company from $18.10 to $25.00 in a report on Wednesday, August 4th. TheStreet raised shares of Schlumberger from a “d+” rating to a “c-” rating in a report on Thursday, June 10th. Finally, Cowen reaffirmed an “outperform” rating and set a $29.03 price objective (down from $32.00) on shares of Schlumberger in a report on Monday, July 26th. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Schlumberger currently has an average rating of “Buy” and an average target price of $29.84.

Shares of NYSE:SLB traded up $1.23 during midday trading on Wednesday, hitting $28.90. The company’s stock had a trading volume of 381,333 shares, compared to its average volume of 12,528,211. The business’s 50 day simple moving average is $28.36 and its 200 day simple moving average is $29.53. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.00 and a current ratio of 1.37. The company has a market cap of $40.41 billion, a P/E ratio of 40.14 and a beta of 2.39. Schlumberger Limited has a 12-month low of $13.70 and a 12-month high of $36.87.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Thursday, July 22nd. The oil and gas company reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.04. Schlumberger had a net margin of 4.72% and a return on equity of 9.96%. The firm had revenue of $5.63 billion for the quarter, compared to the consensus estimate of $5.52 billion. During the same period last year, the firm posted $0.05 earnings per share. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, sell-side analysts predict that Schlumberger Limited will post 1.25 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 7th. Investors of record on Wednesday, September 1st will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Tuesday, August 31st. Schlumberger’s payout ratio is currently 73.53%.

Schlumberger Profile

Schlumberger NV engages in the provision of technology for reservoir characterization, drilling, production and processing to the oil and gas industry. It operates through the following business segments: Digital and Integration; Reservoir Performance; Well Construction; and Production Systems. The Digital and Integration segment combines the company’s software and seismic businesses with its integrated offering of asset performance solutions.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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